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5 Things to Know Today: BoC Hike Odds Near 80%, Oil Tops US$100, Loonie Hits 5-Week High

  Canadian Money Brief  |  Saturday, October 24, 2026 The Bank of Canada is expected to raise rates on Wednesday, oil is back above US$100 and stocks slipped on AI worries. Here are the five things to know this Saturday, and what each one means for your wallet. 1 The Bank of Canada is widely expected to hike on Wednesday Markets are putting roughly an 80% chance on a quarter-point increase at the Bank of Canada’s Oct. 28 decision, which would lift the policy rate from 2.25% to 2.50%. A majority of economists polled by Reuters also expect a second hike by the end of March. The shift followed hawkish comments from Governor Tiff Macklem about a higher inflation outlook driven by oil. What it means for you Every 0.25-point increase adds about $250 a year (roughly $21 a month) for each $100,000 of prime-linked debt, such as a variable-rate mortgage or HELOC. Fixed-rate holders are not hit directly, but renewals are being priced off higher bond yields. Savers may see HISA and...
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Trump Escapes Prison and Fines in Hush-Money Case

In a landmark decision, President-elect Donald Trump has avoided any prison time or fines in the hush-money case that has captivated the nation. On Friday, Judge Juan Merchan handed Trump an unconditional discharge, sparing him from jail time, fines, or probation. This ruling makes Trump the first convicted felon to hold the White House.

Trump was convicted in May on 34 counts of falsifying business records to cover up a $130,000 payment to adult film star Stormy Daniels during his 2016 presidential campaign. Despite the potential penalties of up to four years in prison and $5,000 in fines for each count, the judge opted for an alternative sentence, citing the unique circumstances of the case.

During the hearing, Trump maintained his innocence and described the case as a "tremendous setback" for the justice system. The decision has sparked widespread debate, with some praising the judge's discretion and others criticizing the lack of tangible consequences for the president-elect.

Trump's legal team has indicated plans to appeal the jury's verdict, but for now, he remains a convicted felon as he prepares to take office on January 20.

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